Education is Affordable at UNM

1. Education is Affordable at UNM

2. What Is Financial Aid? • Scholarships • Grants • Loans • Student Employment opportunities

3. Financial Aidis Available… from the following: • Federal government • State of New Mexico • University of New Mexico • Tribal agencies • Scholarships

4. Free Application for Federal Student Aid (FAFSA) • The Dept. of Education compiles student and family information used to calculate the student’s Expected Family Contribution (EFC) • File the FAFSA on the Web at www.fafsa.gov • UNM’s priority filing date is March 1st

5. FAFSA on the Web Worksheet • FAFSA Worksheet • 10-page booklet • Print to use as a “pre-application” worksheet • Questions follow order of FAFSA on the Web • FAQ is available within the worksheet • Requires a PIN to sign on-line: • www.pin.ed.gov

6. www.fafsa.ed.gov • File online • Use the worksheet • Obtain your pin number

7. Information Needed for FAFSA Worksheet • Social Security Number • Taxed and Untaxed Income • Family information • File your taxes as early as possible • You may use estimated tax information to meet the priority date

8. Expected Family Contribution The Expected Family Contribution (EFC) is used to determine your eligibility for financial aid.

9. Cost of Attendance • Tuition and Fees • Room and Board • Books and Supplies • Transportation • Miscellaneous • Costs vary between universities

10. What is Financial Need? Cost of attendance minus Expected family contribution equals “Financial need”

11. Dependent student living with parent Dependent student living off campus Independent student living Off campus Tuition & Fees 1434 1434 1434 Room & Board 2858 7948 7948 Books & Supply 944 944 944 Transportation 1660 1660 1660 Miscellaneous 1860 3044 3044 Total $8756 $13846 $15474 UNM VC Undergraduate Budget 2010/2011

12. Grants • Does not have to be paid back • Usually awarded on the basis of financial need • Federal Pell Grant • Federal Supplemental Educational Opportunity Grant • State Student Incentive Grant (SSIG) • UNM Legislative Grants

13. Loans • Money students and parents borrow to help pay educational expenses. • Repayment usually begins six months after graduation • Subsidized Stafford • Unsubsidized Stafford • Parent Loan (PLUS)

14. Student Employment • Allows students to earn money to help pay educational costs • Workstudy (Need & No-Need) • Requires FAFSA • Student Employment • No FAFSA needed

15. Student Employment Website http://www.unm.edu/~wsestudy/

16. Satisfactory Academic Progress Federal regulations require that students maintain satisfactory academic progress. • 2.0 Cumulative GPA • 67% Completion Average • 150% of required degree hours

17. Scholarships • Eligibility requirements vary • May require FAFSA • Deadlines and application procedures vary • Where can I find scholarships? • Internet: www.fastweb.com • Scholarship Office – Scholarship binder • Check with your tribal higher education office

18. Legislative Lottery Scholarship • Pays tuition only • Begins 2nd semester • No application required • Requirements: • NM Resident • Graduate of NM High School or NM GED • Full-time student • Minimum 2.5 GPA

19. http://www.unm.edu/~unmvc/finaid/finaid.htm

20. LoboWeb Enter LoboWeb through https://my.unm.edu

21. Self-Service - LoboWeb

22. Important Web Sites • Financial Aid https://my.unm.edu http://www.unm.edu/~unmvc/ • Scholarships • http://www.fastweb.com • Loan Counseling and Promissory notes • https://studentloans.gov • FAFSA on the Web • http://www.fafsa.ed.gov